PHOENIX—The city's skyline will have a very different look come2017 as Chicago-based Smith Partners LLC isexpected to break ground in August on a massive development.

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Phoenix Central Station will include about 475 apartments,30,000 square feet of commercial space and a dog park. The 34-storyglass tower will be Phoenix's tallest residential high-risebuilding. The $82 million development will sit at 300 N. CentralAve., where there is a transit station. The city owns theproperty.

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Phoenix leaders voted 6-2 to approve the terms of a developmentagreement earlier this month. The deal includes an incentivepackage that city officials say is necessary to attract developmentto downtown on a large scale.

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As part of the agreement, Phoenix will give Smith Partners atax-abatement incentive, or government property lease excise tax.This agreement allows the developer to avoid paying certain taxesbecause the city will keep title over the building and grant thedeveloper an exclusive right to lease the property back from thecity.

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Representatives from Smith Partners were not available forcomment.

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